As the global economy reaches levels of capacity utilization last seen in the late 1990s, policymakers are convinced that prudent risk management obliges monetary authorities to act.

• 全球经济达到产能充分利用的水平，已是上世纪90年代后期的事情。所以，决策者相信，审慎的风险管理要求货币当局采取行动。